Residential real estate investments exceeded EUR 1 billion in the first quarter of 2022, according to the CBRE investment agency.
At the end of the first quarter, the residential sector became the leading asset class in the market in its share in total investment. This is the volume of investments of about EUR 4 billion. In general, there were 40% more deals concluded during this period than in the same period in 2021.
The share of BTR (construction for rent) and PRS (housing for rent) transactions accounted for over 86% of the total volume of transactions – EUR 910 million. This is 77% more than in the same period last year.
Samuel Población, National Director of Residential Real Estate and Land at CBRE reports: "These figures are relevant for our sector. In the coming months, we expect to conclude more deals of a larger size. With their help, we hope to create an attraction effect for investors, make the sector more attractive, and strengthen this positive trend."
In particular, the volume of BTR operations reached about EUR 700 million, and the volume of PRS operations exceeded EUR 200 million.
Also, the Barcelona metropolitan region conducted the largest BTR transaction at the national level. This is the acquisition by Patrizia of a portfolio of 1,500 houses for EUR 600 million from the developer BeCorp.
Ophelia Nunes Bouge, Director of Residential Real Estate Investment at CBRE, noted: "The opportunity to advise on the largest BTR transaction known to date underscores the importance of our company in such transactions. This type of transaction has appeared in Spain recently, as historically large housing transactions were intended for the commercialization of assets."